The 31-year-old actress has teamed with the co-owner of retail chain American Rag and a former president of Gemstar-TV Guide Interactive on the project. The app is geared toward fashion lovers, and allows users to take a photo of an item, search for it online and purchase it.

"Everyone has fashion envy," the actress declared at a recent demo for Women's Wear Daily. "Everyone can relate to that feeling of looking at an editorial, for example -- or a friend, or the runway, for that matter -- wanting to steal something exactly as you're seeing it, or something similar."

Bosworth said the app is "a natural evolution" of her interest in tech and fashion, and listed Cate Blanchett, Julianne Moore and Alexa Chung as her personal fashion inspirations. The app's "Snap & Steal" tagline reflects the growing popularity of fashion blogs and street style, and modern culture's continued addiction to taking photos on phones.

"Every time I look at a collaboration, whether it's with product or an online presence or something like an app, it really is the melding of art and commerce, fashion and tech," she shared. "Understanding how to refine search for customers is, I think, something on the forefront of tech and fashion."

Bosworth acts as the app's chief marketing officer, with husband Michael Polish on board as chief creative officer. The actress plans to wear a Valentino dress she found via Style Thief to the app's launch party Wednesday.

Style Thief is available in the Apple App Store, and an Android version is expected later this year.

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